I own a 3 family house in NYC, what percentage can I raise the rent every year?

Question

I have (2) two bedroom units currently paying $1300 per month each, whats the maximum legal amount I can i raise them PER year, I have NOT given the tenants a lease yet

Answer 1

NYC is difficult to say with its own tenant laws. However, there is no limit to how much you can raise the rent. I would point out that the tenants have the right to refuse to sign the lease if you raise it too much and move out. then you have an empty unit.

Answer 2

2

Answer 3

Rent To Own Homes : http://RentToOwnHome.uzaev.com/?celq

Answer 4

i think of maximum do. i do no longer, i decide for my tenants to stay. It costs me money in the event that they pass. This year I even have decreased the lease with the help of $fifty 5 and $one hundred for 2 of my renters who have been having a tricky time. The $one hundred one is a chit for being on time, he will pay me prevalent lease if he can no longer pay me on the 1st. the only for fifty 5 off is in basic terms money off. She is fixed income and actual having a tricky time putting food on the table. i did no longer decide for her shifting over a pair of dollars. The "I care approximately you" ingredient makes for truly super tenants, all landlords might desire to offer it a attempt.

Answer 5

This is free market, I believe that this like supply and demand, if more people like to rent your house, you can raise more per year, you can decide whatever you want as long as they sign it. if nobody want to rent, there is nothing you can increase it.

Answer 6

you may want to look into real estate law for that area.
And that seems really low, to let someone move in at one rate, and then jack the price up, but I suppose thats how some people make their living.

Answer 7

What is the address where this is? I will be sure to let your tenants know you are a bad landlord.

Answer 8

Increase it with the inflation rate so you don't loose the value of your income. lol